On February 14, 2023, At the 14th Aero India, Raksha Mantri Shri Rajnath Singh held a meeting with CEOs of Original Equipment Manufacturers (OEMs). During the meeting, he emphasized India’s advantages in the defence sector and described it as a win-win situation for the global defence industry.
Shri Rajnath Singh highlights India’s competitive land costs, skilled human capital, vibrant start-up ecosystem, and huge domestic defence market, which makes it an attractive destination for the defence manufacturing industry. He also spoke about the importance of the defence sector for India, as it not only helps in becoming self-reliant but also generates jobs for the people.
The CEOs of General Atomics, Safran, Boeing, Embraer, and Rafael Advanced Defence Systems attended the meeting and gave their suggestions to facilitate global investment in Indian defence manufacturing. Shri Rajnath Singh assured them of the government’s efforts to remove regulatory hurdles for private industry.
Shri Giridhar Aramane, the Defence Secretary, Shri Pankaj Agrawal, DG (Acquisition), Shri T. Natarajan, the Additional Secretary, Defence Production, and other senior officials from the Ministry of Defence were also in attendance.
India has been focusing on promoting the defence sector and attracting foreign investment to boost local manufacturing capabilities. The government’s policies promoting FDI and defence manufacturing in India, along with the incentives given by state governments for investment in Defence Industrial Corridors, are aimed at strengthening the defence sector and making India a hub for global defence manufacturing.
